Ichimoku Analysis (4-hours chart)
Tenken-Sen- 113.33
Kijun-Sen- 113.53
CHFJPY has halted its 1-month of a bullish trend and lost more than 300 pips on strong yen. The slight jump in Swiss franc is supporting prices at lower levels. USDCHF hits 3-month low and broken significant support 0.95400. This confirms weakness, a dip till 0.9500/0.9480 likely.
The pair has taken support near the trend line and formed a bullish AB=CD pattern. A slight recovery till 114/114.59 is possible. The next major support to be watched is 112.50 and break below that level targets 112/112.60. Extreme bearish trend continuation only below 111.60.
It is good to buy on dips around 112.60-65 with SL around 111.83 for the TP of 114.55.
